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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Revenues $ 244,011 $ 132,894 $ 460,908 $ 277,460
Operating Expenses        
Employment expenses 87,630 60,163 179,389 126,293
Distribution and other asset-based expenses 36,021 17,345 68,315 36,754
Restructuring and severance 0 420 0 420
Depreciation expense 981 1,196 2,079 2,454
Amortization expense 10,363 7,533 19,828 15,066
Total operating expenses 157,600 106,272 312,355 226,236
Operating Income (Loss) 86,411 26,622 148,553 51,224
Other Income (Expense)        
Other income (expense), net 826 (805) 2,597 (193)
Total other income (expense), net 6,067 (435) 4,042 (16,036)
Interest Income (Expense)        
Total interest income (expense), net 6,020 (2,400) 13,270 (104)
Income (Loss) Before Income Taxes 98,498 23,787 165,865 35,084
Income tax expense (benefit) 22,401 7,578 37,554 17,869
Net Income (Loss) 76,097 16,209 128,311 17,215
Noncontrolling interests (13,130) (4,930) (28,756) (10,221)
Net Income (Loss) Attributable to Virtus Investment Partners, Inc. $ 62,967 $ 11,279 $ 99,555 $ 6,994
Earnings (Loss) per share—Basic (in $ per share) $ 8.18 $ 1.46 $ 12.97 $ 0.92
Earnings (Loss) per Share—Diluted (in $ per share) $ 7.86 $ 1.43 $ 12.39 $ 0.88
Weighted Average Shares Outstanding—Basic (in shares) 7,698 7,720 7,674 7,572
Weighted Average Shares Outstanding—Diluted (in shares) 8,007 7,895 8,038 7,936
Consolidated entity excluding consolidated investment products        
Operating Expenses        
Other operating expenses $ 21,946 $ 17,436 $ 41,526 $ 36,321
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net 2,494 7,114 3,385 (430)
Interest Income (Expense)        
Interest expense (2,256) (3,126) (4,570) (6,325)
Interest and dividend income 166 242 302 994
Consolidated Investment Products        
Operating Expenses        
Other operating expenses 659 2,179 1,218 8,928
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net 2,747 (6,744) (1,940) (15,413)
Interest Income (Expense)        
Interest expense (14,452) (28,150) (28,900) (52,636)
Interest and dividend income 22,562 28,634 46,438 57,863
Investment management fees        
Revenues        
Revenues 193,510 110,550 366,779 230,838
Distribution and service fees        
Revenues        
Revenues 23,450 8,889 43,798 18,349
Administration and shareholder service fees        
Revenues        
Revenues 25,877 13,289 48,437 27,942
Other income and fees        
Revenues        
Revenues $ 1,174 $ 166 $ 1,894 $ 331